British inflation holds at zero in March

Britain’s annual inflation rate languished at a record-low of zero in March, as falling clothing and gas prices were offset by gains for other products, official data showed Tuesday.

“The Consumer Prices Index (CPI) was unchanged in the year to March 2015, that is, a 12-month rate of 0.0 percent, the same rate as in the year to February 2015,” the Office for National Statistics said in a statement.

“Falls in clothing and gas prices produced the largest downward contributions to change in the inflation rate.

“These were offset by a rise in the price of motor fuels and smaller upward contributions from a variety of other products such as food.”

The unchanged reading was in line with market expectations.